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Property profile & analytics
OFF-MARKET
Estimated value
$2,280,000
Office buildings
3031 Northern Ave A-D, Phoenix, AZ 85051-6694
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US07-0142380
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1985
Construction
CONCRETE
Total area
10,962 SF
Lot
2.11 ac (91,868 SF)
Zoning code
C-O
APN
151-02-011F
UPID
US07-0142380
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
International Driving Sch Pllc Training Center Vocational School
-
Managed Care Alternatives Inc Medical Billing Service
-
Paradise Promotions Marketing & Advertising
-
Westmont Water Services Professional Services
-
Bryan Lazaro Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.08M
Comparable Approach
Comparable
$3.11M
Blend (final)
Blend
$2.28M
Owner & transaction history
Northern Apartments Redevelopment L · 3 yrs held
Northern Apartments Redevelopment L
since 2022
Last sale
$1.4M
7 recorded transactions
Zoning & alternative use
C-O · Phoenix, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Phoenix submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Phoenix submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,645,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,335,000
6.5%
$3,080,000
7%
$2,860,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,290,000
Current use
RETAIL STORES
$3,265,000
Change: -1% · Conversion: Moderate
MEDICAL BUILDING
$2,910,000
Change: -12% · Conversion: Easy
WAREHOUSE, STORAGE
$2,845,000
Change: -14% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,790,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$2.28M
Range $2.05M – $2.51M · ±10% · vs last sale $1.40M (Jul 14 2022)
Last sale anchor
$1.40M
Jul 14 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$208 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$22,856
Tax year 2023
Assessed value
$293,535
Assessed 2024
Previous assessed
$288,014
+1.9% YoY
Effective rate
7.79%
On assessed value
Land market value
$666,400
Improvement market value
$1,112,600
Total market value
$1,779,000
Applied tax rate
61,300.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1985
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
3
Stories
2
Units
3
Total area
10,962 SF
Lot
2.11 ac (91,868 SF)
Zoning code
C-O
APN
151-02-011F
UPID
US07-0142380
Jurisdiction
MARICOPA
Zoning & alternative use
C-O · Phoenix, AZ
Zoning C-O · permitted uses
C-O · Phoenix, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Phoenix. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.3M
RETAIL STORES
Est. value
$3.3M
MEDICAL BUILDING
Est. value
$2.9M
WAREHOUSE, STORAGE
Est. value
$2.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.8M
OFFICE BUILDING Current
RETAIL STORES
MEDICAL BUILDING
WAREHOUSE, STORAGE
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1985
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
2
Buildings
3
Units
3
Lot
2.11 ac
Current owner
From public records · entity-resolved
Northern Apartments Redevelopment L
Individual
Mailing address
2200 E CAMELBACK RD #200, PHOENIX, AZ 85016-3454
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 14, 2022
—
Northern Apartments Redevelopment L
Northern Apartments LLC
Intrafamily Transfer
related
$5,810,000 · Pacific Premier Bank
Sep 20, 2021
$1,395,000
Northern Apartments LLC
Northern Lights Holdings LLC
Special Warranty Deed
$1,120,000 · Klinkloans Fund LLC
Jul 29, 2016
$850,000
Northern Lights Holdings LLC
Wetmore Vista Holdings LP
Special Warranty Deed
$858,500 · Us Bank NA
Jul 29, 2016
—
Elizabeth Rondeau
Koll Bren Fund V LP
Re-recorded Document
related
—
Feb 10, 2006
$1,787,500
Wetmore Vista Holdings
Rondeau,robert & Elizabeth
Grant Deed
—
Nov 30, 2000
$1,640,000
Elizabeth Rondeau
Koll Bren Fund V LP
Grant Deed
$1,225,000 · Kansas City Life Insurance Co
Jan 26, 1993
$555,000
Denali National Trust INC
Taylor
Trustees Deed
—
Jan 26, 1993
$550,000
Taylor,oscar G
Rtc
Trustees Deed
—
Sep 25, 1992
$398,666
Rtc
Dayspring Northe
Grant Deed
—
Feb 15, 1991
—
Sunrise Investme
O' Connor
Grant Deed
related
—
Oct 3, 1988
—
Daniel O'connor
Unknown
Grant Deed
related
—
—
—
Robert G Carlisle
—
Deed Of Trust
related
$599,670 · Robert S & Elizabeth A Rondeau
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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